ZAMBIA’s bid for the possible International Monetary Fund (IMF) financial bailout remains intact pending board evaluation next month, Finance Minister Felix Mutati has said.
Mr Mutati said the Government was unwavering in its commitment to engage and conclude discussion with the IMF.
Mr Mutati told journalists on the sideline of the South Africa trade and investment mission to Zambia in Lusaka on Monday that the Government would go ahead with the plans.
He said in an interview that the Government was not going to do away with the IMF programme, stating that Zambia would remain on course with its plans to access the financial bailout.
“We are not doing away with the IMF programme no matter what. We are still on a solid path with the IMF and the programme will be taken to the board in August for evaluation,” he said.

MUTATI

Mr Mutati said Zambia would be judged based on the Home Grown Economic Stabilisation and Growth programme dubbed ‘Zambia Plus’ that was submitted to the IMF during the last mission meeting.
This programme emphasises on five pillars namely to enhance domestic resource mobilisation, social protection to the vulnerable, budget credibility and fiscal consolidation.
Mr Mutati said the programme also focuses on the policy and structural reforms such as removal of subsidizes in the electricity and fuel as well as the transformation of Farmers Input Support Programme (FISP) into e-voucher
The other one is maintaining fiscal deficit to not more than 7.4 per cent in 2017 to gradually reducing it to three per cent of Gross Domestic Product (GDP) by 2020, so as to assure debt suitability.
He said the programme was also looking at the stabilisation of the macroeconomic fundamentals such inflation, exchange rates, whilst boosting international reserves and narrowing the trade deficit.
“The IMF programme is fundamentally framed on the basis of what Zambia submitted to IMF … as we stand now that still remains solid,” he said.
He said Government was very focused on achieving macroeconomic stability as evidenced by economic fundamentals such as inflation and exchange rate.
“As we stand today we are on course with the programme to be taken to the board in August as it was said at the end of the mission meeting and we shall remain on course,” Mr Mutati said.ZAMBIA’s bid for the possible International Monetary Fund (IMF) financial bailout remains intact pending board evaluation next month, Finance Minister Felix Mutati has said.
Mr Mutati said the Government was unwavering in its commitment to engage and conclude discussion with the IMF.
Mr Mutati told journalists on the sideline of the South Africa trade and investment mission to Zambia in Lusaka on Monday that the Government would go ahead with the plans.
He said in an interview that the Government was not going to do away with the IMF programme, stating that Zambia would remain on course with its plans to access the financial bailout.
“We are not doing away with the IMF programme no matter what. We are still on a solid path with the IMF and the programme will be taken to the board in August for evaluation,” he said.
Mr Mutati said Zambia would be judged based on the Home Grown Economic Stabilisation and Growth programme dubbed ‘Zambia Plus’ that was submitted to the IMF during the last mission meeting.
This programme emphasises on five pillars namely to enhance domestic resource mobilisation, social protection to the vulnerable, budget credibility and fiscal consolidation.
Mr Mutati said the programme also focuses on the policy and structural reforms such as removal of subsidizes in the electricity and fuel as well as the transformation of Farmers Input Support Programme (FISP) into e-voucher
The other one is maintaining fiscal deficit to not more than 7.4 per cent in 2017 to gradually reducing it to three per cent of Gross Domestic Product (GDP) by 2020, so as to assure debt suitability.
He said the programme was also looking at the stabilisation of the macroeconomic fundamentals such inflation, exchange rates, whilst boosting international reserves and narrowing the trade deficit.
“The IMF programme is fundamentally framed on the basis of what Zambia submitted to IMF … as we stand now that still remains solid,” he said.
He said Government was very focused on achieving macroeconomic stability as evidenced by economic fundamentals such as inflation and exchange rate.
“As we stand today we are on course with the programme to be taken to the board in August as it was said at the end of the mission meeting and we shall remain on course,” Mr Mutati said.